PREHEAT YOUR OVEN: Preheat your oven to 325 degrees F. Spray three 8-inch cake pans with nonstick spray, line the bottom with parchment paper and spray again. Set aside.
MIX THE INGREDIENTS: In a medium size mixing bowl, whisk together the flour, baking powder, and salt. Set aside.
In the bowl of a stand mixer fitted with the paddle attachment, combine the butter and the sugar. Mix on medium-high for about 3 to 5 minutes, until the mixture is light and fluffy.
Add the peanut butter and dulce de leche and continue to beat for an additional 2 minutes, until the mixture is smooth and silky.
Add the eggs, one at a time, scraping down the sides and bottom of the bowl to make sure all of the butter and sugar are mixed well with the eggs. Add the vanilla. Turn the mixer to medium-high and beat an additional 2 to 3 minutes.
With the mixer on low speed, alternately add the dry ingredients and the milk, starting and ending with the dry mixture. Mix until just combined.
BAKE THE CAKES: Pour the batter into your three 8-inch pans (about 22 ounces in each) and bake until a toothpick inserted in the center of the cake comes out with a few moist crumbs on it, about 25 to 30 minutes.
Allow the cakes to cool in the pan on wire racks for about 10 to 15 minutes and then invert onto wire racks (TIP: spray the racks with non stick spray) and allow to cool completely.
TIP: Cakes can be made ahead of time and wrapped in plastic wrap and frozen until ready to use. Be sure to give the cakes about 30 to 60 minutes at room temperature before stacking and decorating.